Why Does Estate Planning Matter to Your Clients?

Posted by Robert L. Arone In 2008, Congress recognized the need for the public to understand the importance and benefits of estate planning by passing House Resolution 1499, which designated the third week of October as National Estate Planning Awareness Week. Nevertheless, according to a 2019 survey carried out by Caring.com, 57% of adults in the […]

IRS Finally Issues Cryptocurrency Updates

By: Eric P. Rothenberg, Esq. – For the first time since the IRS issued guidance in 2014 [See IRS Notice 14-21], the IRS has twice spoken on the subject of cryptocurrency despite Congress practically begging for guidance in September 2018 [See letter to the IRS dated September 19, 2018 from the House Ways and Means […]

Modern Uses for Life Insurance Trusts

Posted by Robert L. Arone Since the enactment of the Tax Cut and Jobs Act of 2017, the utility of the irrevocable life insurance trust (ILIT) has been in question. The substantial increase in the federal estate tax exemption–$11.4 million for an individual and $22.8 million for a married couple in 2019—greatly reduced the need […]

Income Tax Strategies to Move Your Clients Forward

Posted by Robert L. Arone The 2019 estate tax exemption is $11.4 million per person, up from $11.2 million per person in 2018. According to the Tax Policy Center, only 4,000 estate tax returns were filed this year, with only 1,900 of those returns owing tax. Some industry experts estimate that less than one percent of […]

Niche Trusts: A Chance to Collaborate

Posted by Robert L. Arone   If there’s one thing we can all agree on, it is that each client is unique. Likewise, our approach to counseling these clients should be tailored to each one’s specific needs. Let’s work together to develop special plans that fit each client’s special circumstances. One key tool to consider […]

The Revocable Living Trust: Helping Clients, Growing Your Practice

Posted by Robert L. Arone Prevention Is the Greatest Cure Your clients trust you with their financial future and the legacy they want to leave behind. They rely on you to anticipate challenges, foresee trouble, and take preventative measures. When it comes to a client’s financial wellbeing, it is up to the trusted advisor to […]

Portability and Married Couples: A Viable Option

Posted by Robert L. Arone For maximum benefit, estate planning should happen as a team effort, with CPAs, insurance professionals, financial advisors, and attorneys working together strategically and cooperatively. When it comes to helping married couples plan, today’s strategies need to be considerably more thoughtful than in previous years. Although the estate tax exemption is […]

What is the tax implication for a joint venture vs. a partnership?

By Eric P. Rothenberg, Esq. Partnerships and joint ventures share many similarities. However, there are significant differences business owners should be aware of when allying with another enterprise. Both are forms of legal structures used by business owners to combine resources, talents, or skills with another person or business. Business owners often mistakenly use the […]

Coordinate Retirement and Estate Planning For Improved Client Relationships

Posted by Robert L. Arone Retirement accounts are designed to help make the transition between working and retiring easier. They provide a steady stream of income for retirees who are suddenly without take-home pay for the first time in their lives. These accounts require extra planning and consideration since, unlike other assets your clients may […]

Accounting Methods for Cryptocurrency Trades & Sales

By Eric P. Rothenberg, Esq. – (Published Article)   The world of cryptocurrency transactions was changed dramatically at the end of 2017 when the Internal Revenue Code [“IRC”] was modified to remove all types of assets eligible for Tax Free Exchanges under IRC Section 1031 [also known as “1031 Transactions] EXCEPT for real estate. Prior […]

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